Articles worth reading
Image : 25 bodies found in Colombia air crash, around 10 rescued alive: official

25 bodies found in Colombia air crash, around 10 rescued alive: official

person Orange Themes access_time Nov 29,2016

An aircraft with 81 people aboard, including a Brazilian football team, crashed in central Colombia.

Image : 25 people found dead in Mediterranean migrant boat horror

25 people found dead in Mediterranean migrant boat horror

person Orange Themes access_time Oct 26,2016

The French aid group Doctors without Borders (MSF) said Wednesday it had found a pile of 25 migrants who died in apocalyptic conditions, perishing in a pool of fuel and seawater aboard a crowded dinghy off Libya. MSF said its chartered rescue ship,

Image : Iran seeks more cooperation with Saudi Arabia

Iran seeks more cooperation with Saudi Arabia

person Orange Themes access_time Dec 05,2016

TEHRAN, Iran (AP) — Iran's Foreign Ministry spokesman says the Islamic Republic and its regional rival Saudi Arabia can and should cooperate to resolve regional crises.

Latest blog articles

Vietnam’s economic reform hopes seen fading over failed TPP

access_time Mar 18,2017 chat_bubble_outline 39 views

Hopes for strong economic reforms in Vietnam are fading after the U.S. withdrawal from the Trans-Pacific Partnership (TPP), according to the Vietnam Economic Report 2016 published in Hanoi on March 16.


Vietnam’s economic reform hopes seen fading over failed TPP



The report points out the economic problems which Vietnam needs to solve, according to local media.

Economists forecast the global economy from now to 2018 would be more volatile and unpredictable. Rising trade protection, potential risk of trade wars and uncertainties brought by U.S. President Donald Trump’s policies may cause upheavals worldwide.

Old growth model slow to change

Professor Ngo Thang Loi from the National Economics University (NEU), co-editor of the Vietnam Economic Report 2016, said the economy had yet to solve major challenges: the old growth model based on capital, natural resources and cheap labor, low productivity, and exclusion from the world’s fourth industrial revolution. This is why Vietnam can hardly achieve and maintain fast and sustainable growth.

The country is taking part in many new-generation FTAs, including the TPP that is expected to provide a great impetus for reforms.

However, President Trump withdrew America from the TPP, which would have accounted for around 40% of the world’s gross domestic product. Therefore, Vietnam now sees less pressure to reform institutions, said Loi.

The research team from NEU, the Central Economic Committee and the Committee on Economic Affairs of the National Assembly predicted the U.S. Federal Reserve might further hike interest rates. This would make it hard to significantly lower Vietnam dong interest rates given the need to prevent any exchange rate volatility.

Can Van Luc, a finance and banking expert, said that as Vietnam’s internal problems had not been resolved, external factors had been striking their blow, forcing the country to handle two situations in one policy.

He explained that the Fed rate hike would have adverse impact on Vietnam’s foreign exchange and interest rate policies, and at the same time, the Trump administration’s policy change would lure U.S. corporations back to America.

Comprehensive FDI assessment

FDI enterprises are still mainly operating in the fields that rely on natural resources and cheap labor, creating low added value for the economy, with limited positive contributions to scientific and technological improvements. Therefore, the Vietnam Economic Report 2016 says it is now time to do a comprehensive assessment of FDI on opportunity costs, similar effects and policies in the coming time.

The report underscores the links between FDI enterprises and domestic firms remain weak. Meanwhile, the surge in imports and low added value make Vietnam a place with market advantages instead of competitive advantages over other countries.

Notably, some manufacturing activities with foreign involvement are one of the key factors for environmental pollution. A number of foreign investors have taken advantage of lax environmental regulations to relocate polluting industries to Vietnam.

After the severe environmental pollution caused by Formosa, the Government has made certain changes in thinking and laid down stricter rules on FDI attraction in order to drive this capital flow into the industries with high added value and less pollution, fostering  sustainable economic development. However, in the coming time, issues related to the environment will be considered more carefully before an FDI project gets approved.

Despite such concerns, Tran Tho Dat, head of NEU, said the FDI sector is performing better than the local economic sector.

In 2016, the FDI sector generated a trade surplus of US$23.7 billion, well above US$17.1 billion in 2015. Meanwhile, the local economic sector caused a trade deficit of US$21.1 billion last year, up from US$20.1 billion a year earlier.

Currently, the FDI sector accounts for over 23% of the overall investment in the country, over 70% of industrial manufacturing value, and some two-thirds of export turnover.

Nguyen Thuong Lang, also from NEU, predicted Vietnam would attract around US$118 billion between 2017 and 2025, including US$13 billion this year alone. By the end of 2025, the total accumulated FDI amount would reach US$335 billion, he said.

SGT

Boosie BadAzz Drops Epic Holiday Mixtape: 'Happy Thanksgiving & Merry Christmas'

Read on the original site chat_bubble_outline Read More...

Don't Drowse and Drive: Sleepiness as Risky as DUI

Even with holiday travel approaching, it's important to get enough sleep before getting behind the wheel: Missing 1 or 2 hours of sleep nearly doubles a person's risk for a car crash, a new report finds.And missing 2 to 3 hours of sleep more than quadruples the risk for a crash, according to the new report, published today (Dec. 6) from the AAA Foundation for Traffic Safety. This is the same crash risk a person faces when driving over the legal limit for alcohol, according to the National… chat_bubble_outline Read More...

Vietnam heads list of ASEAN countries exporting to Canada

Thailand came in second with an export revenue of US$2.17 billion. It was followed by Malaysia with US$1.78 billion; Indonesia with US$1.13 billion, the Philippines with US$934 million, and Singapore with nearly US$664 million. Between January-November 2016, two-way trade revenue between Vietnam and Canada reached nearly US$3.82 billion, up 10.6% over the same period in 2015. Vietnam posted an export revenue of US$3.45 billion with Canada, up 16.4% over the same period in 2015 and an import… chat_bubble_outline Read More...

Two suspects freed in France terror plot probe

Paris (AFP) - French authorities released two of the seven suspects arrested in police raids at the weekend which broke up a terror ring plotting an attack, a judicial source told AFP.Police swooped on Saturday night in the in the eastern city of Strasbourg and Marseille in the south following an investigation by security services lasting more than eight months.They detained seven alleged plotters from France, Morocco and Afghanistan, foiling what Interior Minister Bernard Cazeneuve called "a… chat_bubble_outline Read More...

Top Asian News 11:10 p.m. GMT

Tolotangga, Indonesia (AP) — The U.S. Geological Survey reports that a magnitude 6.2 earthquake has hit a region in the eastern part of Indonesia. The agency says the earthquake hit about 6:30 a.m. Friday in the Sumbawa region. The epicenter was about 30 kilometers south of Tolotangga. The agency says the earthquake was about 72 kilometers deep. There were no initial reports of injuries or damage. On Dec. 7, Indonesia's Aceh province was hit by a magnitude 6.5 quake that killed more than 100… chat_bubble_outline Read More...

folder_open Assigned tags

Comments

Loading...

Trends in Singapore

Trends in Indonesia

Trends in Philippin